A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
Cramer is as discredit as Mike Norman and his sidekick Geico Caveman Adkins, and Kublow.
Well, if you listen to what Cramer says, he says "Don't move your money from Bear" and he's referring to using Bear as a financial institution.In other words, if you had stocks, bonds, or cash accounts with Bear, you don't need to make a run on the bank because if Bear has trouble, it will just be taken over. And that's precisely what happened.Cramer was not making a comment about Bear's stock. I'm no fan of his, but let's at least pay attention to what's said.
now the shoe's on the other foot. Bernanke should make a video for you tube:"He knows NOTHING!!!!!!!!!!"
I like Cramer, but i think he really, really, really, really screwed up on this one. I do think he did not see this coming and there is a hidden reason why this all took place.
He should have to make up the difference in cash the caller lost due to his ignorant comment on the matter...He is a tool.
Dan:So, if you thought that your bank may be in trouble and/or there was the possibility that it would go out of business unless it got taken over (which was a possibility in and of itself at the time), you would keep your money there?I don't give a rats ass if it was about BSC stock or money in an account with them, it was wrong.
I have to go with those who say Cramer was right. He said they'd be taken over, but that account holders of firms that clear through Bear shouldn't be worried. He was 100% correct. This was not a question about "should I hold onto my BSC common?"
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